We have just finished the inaugural meeting of the Rhine Group. We discussed the central elements of Europe's competitiveness agenda, including basic science, AI/compute and cybersecurity, defense, energy, entrepreneurship/start-ups. I will be updating you on any progress we may have. Some of the projects we will pursue include: - We'll help Europe catch up on compute (Mario Draghi diagnosed the problem and some solutions in a recent FT piece) - We’ll help European universities and scientific institutions and explore a Rhine Chair program with European universities. - We’ll work on some key EU policy challenges, including facilitating the flow of capital to entrepreneurs. - We will set up a grants program that I will explain and announce here.